If you’re looking to implement account based prospecting strategy, this post is for you. I was once in your shoes, wondering how to make ABS work for my business. After researching and experimenting with different strategies, I finally found a system that works. In this post, I’ll share how to implement an ABS strategy that will help you close more deals and grow your business.
Account Based Prospecting
Account based prospecting is a targeted sales approach that focuses on engaging with specific accounts that are more likely to convert into customers.
This approach involves customizing messages and offers to the specific needs of each account and building relationships with key decision-makers within those accounts.
Account-based prospecting aims to generate more qualified leads and close more deals.
Account-based Selling Explained
An account-based sales model focuses on a single company, or ‘Account,’ rather than multiple individual buyers.
Allows sales and marketing to work together to create a holistic strategy tailored to an account, rather than just an individual buyer.ABS is a data-driven way to identify and target the best accounts for your business. Once you’ve identified those accounts, you can develop targeted strategies for each one.
Instead of dedicating a single sales rep to one specific client, you can use an account-based approach. This enables you to make the most of all your existing resources and focus on multiple clients at once.
Account-based selling is a sales strategy that enables sales teams to make the most of existing resources. This way, teams don’t have to dedicate a singular rep to a singular, specific account.
With account-based selling, sales and marketing teams can work together to identify and target specific accounts that are more likely to result in a closed deal. This process enables teams to focus their resources on a smaller group of accounts, which could result in a higher success rate.
With Account-Based Selling, sales and marketing can personalize their content for each target account and ensure that all accounts are getting the proper attention.
The sales team can personalize their messaging for each prospect they are reaching out to with an Account-Based Selling (ABS) approach. This will allow them to focus on only the most qualified opportunities instead of wasting time on unqualified ones.
It’s important to remember that your outbound sales prospecting strategies should be backed by a strong, thorough, and well-thought-out process of identifying and qualifying your prospects.
When you’re an account-based seller, you should only focus on targeting companies with the characteristics you’re looking for. Make sure you do a thorough identification process to ensure the companies you target are a good fit.
Account-based selling is a sales strategy in which reps focus their efforts on selling to a specific group of high-value accounts. This approach allows reps to tailor their sales pitch and message to each account’s specific needs, increasing the likelihood of making a sale.
Sales reps can personalize their pitch with much higher potential than a standardized sales pitch.
Your sales should be your primary focus. After all, your profits come from your sales.
However, successful selling can eventually lead to more success, which you’ll need to sustain your business in the long run.
Most B2B companies know that sales can be leveraged to work in their favor. However, many don’t realize how effective this strategy can be, even in a hyper-saturated market. Businesses can solidify their revenue, reputation, and goals by using account-based selling.
While it may be a challenge, using strategic tactics with an account-based approach can help you to solidify your revenue and goals.
Who Should Be Using ABS?
7 out of 10 business leaders said they were investing in an account-based strategy in a recent study. But, this strategy may not be right for every company.
If you’re looking for a way to increase sales and better target your ideal customers, account-based selling may be right. This methodology can be beneficial for businesses of all sizes, but it’s important to have the resources to make it work. Before making any changes, sit down with your team and decide if ABS is the best approach for your company.
Is your organization a good candidate for automatic callback? Here are five questions to ask yourself to find out.
1. Who is your typical client?
If you’re not sure if the Outbound Business Strategy is right for your business, consider who your target customers are. If you primarily work with small-to-medium-sized businesses, a different method may be better.
Because it requires so much time and effort, many businesses don’t choose to pursue businesses with bad or no credit.
If you’re working on a deal with less than $50,000, account-based sales may not be the best fit.
Your high-value accounts are probably a good fit for ABS if you offer enterprise solutions.
2. How long is your average sales cycle?
Account-based strategies can take a lot of time, but they can be very effective for complex, longer-lasting deals.
If your typical sales process takes more than 3 months, then Automated Business System (ABS) might be a good fit for you.
3. How well are you familiar with your buyer personas?
With account-based sales, you focus on a single customer at a time. This requires a deep understanding of who that ideal client is.
If you’re unsure of your place in the market or don’t have enough data to make an informed decision, it might be best to consider another strategy.
4. How many stakeholders are typically involved in a deal?
While targeting only one or two people may seem like a good strategy, it could cause issues if that individual leaves the company, goes on vacation, or is unavailable.
When you target multiple stakeholders in your sales process, you increase the likelihood of closing the deal. Having more people involved in the process provides additional oversight and increases the chance that someone will identify an issue and take action to close the sale.
Involving various people can help ensure that everyone’s voice is heard and that the best possible solution is found.
5. What kind of products or services do you offer?
The ABS is an in-depth, comprehensive approach to acquiring subscribers. It is ideal for subscription services.
As long as you keep your message clear and consistent, these clients will probably continue using your product or service.
Account-based sales (ABS) is a strategy that focuses on building long-term relationships with key customers. If you sell more than one product or service or offer different packages or pricing for high-revenue clients, this strategy may be right for you.
How Account-Based Selling Uses Content
Both inbound marketing and ABM focus on using content tailored to a specific audience. Inbound focuses more on creating and distributing content to people at different stages in the sales cycle, while ABM targets individual companies.
Since Account-Based Selling requires a team effort, all departments should be involved in creating content that is focused on the various accounts.
Below, you’ll find a list of different strategies and types of content that can be used in your sales campaigns. These are organized from easiest to hardest to implement.
Low effort
Use blog posts, videos, and emails to increase your social media presence. You can also reach out to customers through email or snail mail. Don’t forget to follow up by leaving a voice mail.
Medium effort
- Workshop
- Business case
- Webinars
- Custom report
High-Effort
Trials are an important part of any company’s workshop. They help ensure that the products and services being offered are of the highest quality and meet customers’ needs.
By conducting trials, companies can identify areas where improvements must be made and make changes accordingly. This helps to ensure that the products and services being offered are of the best possible quality and meet customers’ needs.
You can use your content to keep the relationship alive. Your content can show that you value their business. Your content can help them get the most out of their purchase.
After someone has purchased from your company, it is important to maintain a good relationship with them. You can do this by continuing to provide them with helpful and valuable content. This will show them that you appreciate their business and want to help them get the most out of their purchase.
The satisfaction of your customers is the cornerstone of the ABS approach to sales. After all, once you’ve closed the deal, your engagement with them shouldn’t stop.
If customers aren’t satisfied with the product or service they purchased, they may decide not to renew your contract, upgrade to a higher level of service, or buy from you again. To keep your customer loyalty and engagement with your business, it’s essential to continue providing them with valuable information after the sales process is over.
How to Create A Target Account List
After choosing your targets, you’ll want to organize them into tiered accounts. This will make it easier to track who you’ve contacted and who you still need to contact.
Your organization should then assign different amounts of resources to each level. The top tier, which comprises your most valuable clients, should get the most attention. These consumers should be researched thoroughly and communicated with individually. The middle and bottom tiers, meanwhile, should be assigned less.
The first tier, or the first 20 to 50 clients, receives the most attention. These customers are thoroughly researched, and they receive individualized attention from you.
The second tier of our accounts is typically around 200 clients. The level of care and customization they receive is based on their industry, persona, and specific needs. This helps us to create a more personalized approach for each specific client.
These campaigns are lengthy, often lasting several weeks.
Sales development reps and sales reps are responsible for helping choose targets. Their insight and assistance are crucial to the sales process.
Ignoring them is a bad strategy.
How to Effectively Implement an Account-Based Selling Strategy
After reading this post, you might still have some questions about how to put these suggestions into practice. If that’s you, don’t worry, you’re not alone.
Many organizations are struggling with transitioning to an inbound sales model. While they understand the benefits of doing so, they struggle to execute.
Because every business is different, implementing an ABR approach will differ from one business to another. If you’re currently using a high-volume, high-speed approach to selling, transitioning to an ABR model can be risky.
Instead of making a sudden switch, try gradually phasing it out.
When you have created an ideal buyer profile and selected the best-fit accounts for your business, you should create 30% of your team into “tiger” teams focused on one goal. That way, you can ensure that everyone is working towards achieving the same objectives and can measure success more accurately.
Before getting started on your ABS strategy, it’s essential to decide which metrics you want to track. Once you start seeing a positive impact from the process, you can allocate 50% of your company resources to the tiger teams.
Once you reach 75%, then gradually increase to 100.
It usually takes 12 to 24 months to see any improvement after implementing a blended inbound and outbound sales approach. The companies that see the most success with this approach typically have sales and marketing teams who work together closely.
While Account-Based Selling can be difficult to grasp, we hope that this guide provides some insight. While making this transition may be difficult, it could help take your company to the next level.
Account-based sales can be a great way to increase revenue and satisfy customers.
Conclusion
If you’re looking to implement an account-based prospecting strategy, this guide has taught you how to implement an ABS strategy to help you close more deals and grow your business. If you follow the steps in this post, you’ll be well on your way to success with account-based prospecting.
Need Help Automating Your Sales Prospecting Process?
LeadFuze gives you all the data you need to find ideal leads, including full contact information.
Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following:
- A company in the Financial Services or Banking industry
- Who have more than 10 employees
- That spend money on Adwords
- Who use Hubspot
- Who currently have job openings for marketing help
- With the role of HR Manager
- That has only been in this role for less than 1 year
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